Moving to Vancouver? How Your Choice of Neighbourhood Can Drastically Affect Your Mortgage

Marci • June 27, 2014

Vancouver is a city of neighbourhoods. Divided into 23 neighbourhoods, plus University Endowment Lands, Vancouver is a city with many communities. If you are moving to this desirable area, it is important to understand how your choice of neighbourhood will affect your mortgage.

Vancouver Housing Statistics and Scale

West and East Vancouver homes differ in price substantially. In October of 2013 the benchmark price index for detached homes on the west side reached $2,086,800. At the same time, prices on the East Side rose one per cent to $850,000. In a period of five years, the Real Estate Board of Greater Vancouver statistics show an increase of 35.2 per cent in East Vancouver detached-home prices, while there was an increase of 45.3 per cent in the west side.

The Main Influences of the City

Main Street acts as a border between the west and east sides of the city. Downtown Vancouver and neighbourhoods west of Main Street are more affluent than those in the east. The historic difference between the working-class east side of Vancouver, and the west side still influences communities in the area and real estate prices today. Although the debate wares on, many believe that schools in the west side are also better than those in the east.

Mortgage Size and Square Footage

In central areas of the city, like Yaletown and the West End, you will find high- and low-rise apartments, and condominiums. Other central areas like Kitsilano and Fairview offer a greater mix of housing options. These types of home make up more of the market, and create more affordable options for those looking to buy in Vancouver. There is a high demand for Vancouver condominiums, and these homes are quickly becoming popular property investments.

Commute and Save Living Away From the Core

As you move out if the city’s core, inner suburbs offer a better variety of detached homes. South Vancouver is a good example of Vancouver homes where homeowners enjoy smaller mortgages. The outer suburbs expand buyers’ possibilities even farther, and lower price tags significantly. Many residents commute to the core of the city for work and enjoy affordable mortgages in the surrounding suburbs.

Personal Finance and Lifestyle Preferences

All of the areas in the city of Vancouver are wonderful and unique places to live, with libraries, parks, community centres, clinics, and nearby transit. With so much diversity and culture, there is a Vancouver neighbourhood to fit any lifestyle, and any buyer. Personal finance will be the biggest factor when choosing a place to live in Vancouver. Understanding Vancouver communities and culture will help you find the right neighbourhood to call home.

Vancouver is considered one of the best cities in the world in which to live. Navigating the neighbourhoods of the city can be hard without an inside perspective. However, you can move to Vancouver with confidence, knowing you are choosing the right neighbourhood and mortgage for your new Vancouver home. Email us today to learn more about Vancouver real estate, or how to get your perfect mortgage in Vancouver. marci@askmarci.ca

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RRSP Home Buyers’ Plan Explained: A Smart Way to Buy Your First Home

By Marci Deane • July 22, 2026
Saving for a down payment is one of the biggest challenges first-time buyers face. What many don’t realize is that the Canadian government offers a program designed to make it easier—the Home Buyers’ Plan (HBP) . This program allows you to withdraw money from your RRSP to help purchase your first home, without immediate tax consequences. Here’s how it works: Who Qualifies? To be eligible, you generally need to be a first-time home buyer. In practical terms, this means you must not have owned a home in the past four years, nor lived in a property owned by your spouse or partner during that time. There are also special allowances if you’re living with a disability or helping a relative with a disability. In these cases, you can use the HBP even if you’ve owned a home more recently. How Much Can You Withdraw? Under the program, you can access up to $35,000 from your RRSP as an individual. Couples can combine their withdrawals for a total of $70,000 . These funds must have been in your RRSP for at least 90 days before you take them out. Paying It Back The HBP isn’t “free money”—it’s an interest-free loan from your own retirement savings. You’ll have 15 years to repay the full amount back into your RRSP, starting in the second year after withdrawal. Each year, the CRA will send you an HBP Statement of Account outlining how much needs to be repaid. If you don’t make your repayment in a given year, that amount will be added to your taxable income. Why It’s a Smart Strategy The HBP can give first-time buyers a powerful boost toward homeownership. It helps you put together a larger down payment, which can reduce your mortgage amount and monthly payments. Just remember: it’s important to balance the short-term benefit of homeownership with the long-term impact on your retirement savings. Next Steps Thinking about using the Home Buyers’ Plan? Let’s sit down and review whether it’s the right move for you. Together, we can create a strategy that gets you into your first home while keeping your future financial goals on track. 📞 Reach out anytime—it would be a pleasure to guide you through the process.

Bank of Canada Holds Rate at 2.25% — July 15, 2026

By Marci Deane • July 15, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The tone of today's announcement is notably more optimistic than previous months. Here's what's changed and what it means for you.

Let’s Talk About Getting Top Dollar for Your Property

By Marci Deane • July 8, 2026
When it comes to selling your home, most people think the first call should be to a real estate agent. But the smartest first step often isn’t with your agent—it’s with an independent mortgage professional. Why? Because your mortgage plays a bigger role in your bottom line than most people realize. Planning to Buy After You Sell If selling means you’ll also be purchasing another property, you’ll want to know exactly where you stand financially before listing. Mortgage rules change regularly, and qualifying once doesn’t guarantee you’ll qualify again. Getting a pre-approval in place ensures you know what you can afford and eliminates surprises later. On top of that, reviewing the terms of your existing mortgage could uncover options you may not have considered. For example, porting your mortgage instead of arranging a brand-new one could save you thousands. Selling Without Buying Even if you aren’t planning to buy right away, there’s still an important step: understanding the cost of breaking your mortgage. Unless your mortgage is open, penalties apply—and they can be significant. By reviewing the numbers with a mortgage professional, you might find that simply adjusting your timeline could reduce or even avoid costly fees. Navigating Life Changes In situations like a marital breakdown, it can feel like selling the family home is the only path forward. But that’s not always the case. With the right guidance and a legal separation agreement, one spouse may be able to buy out the other, keeping the home and providing stability for everyone involved. The Bottom Line Selling your property is more than just putting a sign on the lawn—it’s about creating a financial plan that protects your equity and positions you for the best possible outcome. Before you take the leap, let’s sit down and review your options. 📞 If you’re ready to talk strategy and make sure you get top dollar for your property, I’d be happy to connect anytime.